Excerpt From Address On International Finance And Trade To The Association Of Foreign Press Correspondents In The United StatesOur Anticipations Soon Began To Be Realized Begin Ning In April, 1919, The Excess Of Europe S Imports Over Exports Was Re Ected In A Sharply Declining Exchange Market The Pound Sterling, Which On March 1, 1919, Was Quoted At Is Today The Quotation For French Exchange Which On March 1, 1919, Was Francs To The Dollar, Is Today Francs To The Dollar Belgian And Italian Exchanges Have Likewise Declined Greatly.There Is Nothing Mysterious About International Ex Change, If It Is Approached From A Common Sense Point Of View Goods Bought In A Foreign Country Can Be Settled For Only By The Sale Of Other Goods Or Of Services, By The Shipment Of Gold, The International Medium Of Exchange, Or Through The Use Of Some Form Of Credit At Present, As You Well Know, The Buying Countries Have Not Sufficient Goods To Sell In Exchange For Those They Wish To Buy They Have Not Enough Gold To Settle Their Balances, And Ade Quate Credit Machinery Is Not Yet In Operation.It Would Be Super Uous To Discuss The Reasons Why The Productive Powers Of European Countries On A Scale, Which Would Make Possible Larger Exports Of Goods, Are So Slow To Recuperate, And The Gold Situation Is Clear All The Available Gold In Europe Would Not Pay For The Goods That Are Needed Therefore, Credit Alone Remains As A Means To Finance The Ow Of Supplies Necessary To Feed The People And To Restore Their Industries.About The PublisherForgotten Books Publishes Hundreds Of Thousands Of Rare And Classic Books Find At Www.forgottenbooks.comThis Book Is A Reproduction Of An Important Historical Work Forgotten Books Uses State Of The Art Technology To Digitally Reconstruct The Work, Preserving The Original Format Whilst Repairing Imperfections Present In The Aged Copy In Rare Cases, An Imperfection In The Original, Such As A Blemish Or Missing Page, May Be Replicated In Our Edition We Do, However, Repair The Vast Majority Of Imperfections Successfully Any Imperfections That Remain Are Intentionally Left To Preserve The State Of Such Historical Works.
- 20 pages
- Address on International Finance and Trade to the Association of Foreign Press Correspondents in the United States
- Eugene Meyer Jr
- 22 April 2019 Eugene Meyer Jr